Among all the transactions, the total B2C section approached 101.1 billion yuan (USD16.22 billion), with the QoQ growth of 13.2% and YoY growth of 23.5%.

There are three reasons for the overall slowdown. Firstly, the downturn of macroeconomics resulted in the decreasing of consumer spend. Secondly, there were too many big promotions throughout Q2 and consumers got immune to promotions. Thirdly, consumers reserved their budget for Bachelor’s Day promotions.

Market Structure and B2C’s Performance

As mentioned above, the total B2C market reached 101.1 billion yuan (USD16.22 billion), accounting for 35.6% of overall online shopping market. With the current growth rate, the market share of B2C will grow by about 30% in Q4.